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Economy Practice Set 05

Authored practice, not a verbatim PYQ. 25 CAPF-level economy MCQs with answer key and one-line explanations, full-syllabus span across international institutions, indicators and reports.

CAPF wiki•5 min read•4 sections
At a glance
PaperPaper ISubjectEconomy

Authored practice, not a verbatim PYQ. Twenty-five single-correct MCQs in CAPF Paper I objective style, spanning international economic institutions, key indicators, reports and publishers. Attempt closed-book, then check the key. For year-sensitive figures, verify the latest.

Questions

Q1The World Economic Outlook is published by the:
  1. AWorld Bank
  2. BInternational Monetary Fund
  3. CWTO
  4. DUNDP
Q2The headquarters of the World Bank and the IMF are located in:
  1. AGeneva
  2. BWashington, D.C.
  3. CNew York
  4. DParis
Q3The World Trade Organization (WTO) is headquartered in:
  1. AGeneva, Switzerland
  2. BVienna
  3. CRome
  4. DBrussels
Q4The "Human Development Report" is published by the:
  1. AWorld Bank
  2. BUNDP
  3. CIMF
  4. DWHO
Q5The "Ease of Doing Business" rankings were historically published by the:
  1. AWorld Bank
  2. BWTO
  3. CUNCTAD
  4. DILO
Q6The Asian Infrastructure Investment Bank (AIIB) was founded with leadership from which country?
  1. AJapan
  2. BChina
  3. CUnited States
  4. DGermany
Q7The New Development Bank is associated with which grouping?
  1. AG7
  2. BBRICS
  3. CASEAN
  4. DOPEC
Q8"OPEC" is an organisation of countries that are major exporters of:
  1. AWheat
  2. BPetroleum
  3. CGold
  4. DCoffee
Q9The Economic Survey of India is prepared by the:
  1. ARBI
  2. BMinistry of Finance (Chief Economic Adviser)
  3. CNITI Aayog
  4. DSEBI
Q10The Economic Survey is normally tabled in Parliament:
  1. AAfter the Union Budget
  2. BA day before the Union Budget
  3. CIn the middle of the year
  4. DEvery five years
Q11The Wholesale Price Index (WPI) in India is released by the:
  1. ARBI
  2. BOffice of the Economic Adviser, Ministry of Commerce and Industry
  3. CSEBI
  4. DUNDP
Q12The Gini coefficient measures:
  1. AInflation
  2. BIncome or wealth inequality
  3. CTrade balance
  4. DMoney supply
Q13The "Global Hunger Index" is published by:
  1. AIMF
  2. BWelthungerhilfe and Concern Worldwide (non-government bodies)
  3. CRBI
  4. DWTO
Q14The Consumer Price Index (CPI) for India is compiled by the:
  1. ANational Statistical Office (NSO)
  2. BRBI
  3. CSEBI
  4. DWTO
Q15The "purchasing power parity" (PPP) approach is used to compare:
  1. AExchange rates only
  2. BThe real value of incomes across countries adjusting for price levels
  3. CStock prices
  4. DInterest rates
Q16"Fiscal Responsibility and Budget Management" relates to:
  1. ALimiting fiscal deficits and managing public debt prudently
  2. BRegulating banks
  3. CSetting MSP
  4. DPromoting exports
Q17The International Labour Organization (ILO) is a specialised agency of the:
  1. AWorld Bank
  2. BUnited Nations
  3. CWTO
  4. DIMF
Q18"GDP at constant prices" is also known as:
  1. ANominal GDP
  2. BReal GDP
  3. CPer capita GDP
  4. DPotential GDP
Q19The base year for national income estimation is changed periodically to:
  1. AReflect a more current structure of the economy
  2. BIncrease taxes
  3. CReduce inflation
  4. DDevalue the currency
Q20The G20 is a forum of:
  1. AOnly developed countries
  2. BMajor developed and emerging economies
  3. COnly oil exporters
  4. DOnly African nations
Q21Which Indian institution releases the official GDP estimates?
  1. ANational Statistical Office (NSO) under MoSPI
  2. BSEBI
  3. CIRDAI
  4. DWTO
Q22The "Sustainable Development Goals" (SDGs), numbering 17, are coordinated by the:
  1. AWTO
  2. BUnited Nations
  3. CIMF
  4. DOPEC
Q23A "trade surplus" occurs when a country's:
  1. AExports exceed its imports
  2. BImports exceed its exports
  3. CBudget is balanced
  4. DInflation is zero
Q24The Reserve Bank of India publishes which of the following periodic reports?
  1. AThe Monetary Policy Report and Financial Stability Report
  2. BThe Economic Survey
  3. CThe Human Development Report
  4. DThe World Economic Outlook
Q25The "World Investment Report" is published by:
  1. AUNCTAD
  2. BWHO
  3. CRBI
  4. DSEBI

Answer key

Reveal the answer key and full worked solutions
Q Answer Why
1 (b) The IMF publishes the World Economic Outlook.
2 (b) Both the World Bank and IMF are headquartered in Washington, D.C.
3 (a) The WTO is headquartered in Geneva.
4 (b) UNDP publishes the Human Development Report.
5 (a) The World Bank published the Ease of Doing Business rankings (now discontinued).
6 (b) The AIIB was founded with Chinese leadership, headquartered in Beijing.
7 (b) The New Development Bank is the BRICS bank, based in Shanghai.
8 (b) OPEC members are major petroleum exporters.
9 (b) The Economic Survey is prepared by the Finance Ministry's CEA team.
10 (b) The Economic Survey is usually tabled a day before the Union Budget.
11 (b) WPI is released by the Office of the Economic Adviser, Ministry of Commerce.
12 (b) The Gini coefficient measures income or wealth inequality.
13 (b) The Global Hunger Index is published by Welthungerhilfe and Concern Worldwide.
14 (a) The NSO compiles CPI; the RBI uses it for inflation targeting.
15 (b) PPP compares real incomes across countries adjusting for price levels.
16 (a) FRBM aims to limit deficits and manage public debt.
17 (b) The ILO is a specialised UN agency.
18 (b) GDP at constant prices is real GDP.
19 (a) The base year is revised to capture the current economic structure.
20 (b) The G20 includes major developed and emerging economies.
21 (a) The NSO under MoSPI releases official GDP estimates.
22 (b) The UN coordinates the 17 SDGs.
23 (a) A trade surplus means exports exceed imports.
24 (a) The RBI publishes the Monetary Policy Report and Financial Stability Report.
25 (a) UNCTAD publishes the World Investment Report.

Cross-references

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